REIT returns ended last week down nearly a half a percentage point, underperforming the S&P 500, according to a new report from BTIG.
Yields on 10-year Treasuries increased 5 basis points to 1.31% and the average implied cap rate hit 5.65%. The spread between the implied cap rate and the 10-year yield is now 434 basis points.
City Office, Medalist Diversified, Soterly Hotels, Ashford Hospitality, and CorEnergy Infra were the top REIT performers for the week ending August 27, with returns in excess of 12% and as high as 24%. On the flip side, Urstadt Biddle, GEO Group, Cown Castle, CIM Commercial, and Bluerock Residential were the bottom five performers.
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